Mizuho Bank to OK Moonlighting from October

Economy

Tokyo, July 5 (Jiji Press)--Mizuho Bank will allow its employees to have side jobs from October, aiming to create new business models by helping them to explore diverse perspectives.

The initiative, disclosed on Thursday, comes as the banking industry faces competition from the rise of fintech, or the integration of finance and information technology.

"It is an initiative for (employees) to look outward, such as by starting own business," Mizuho Bank President Koji Fujiwara said at a symposium in Tokyo.

The bank's parent company, Mizuho Financial Group Inc. <8411>, also said earlier this year that it plans to allow side jobs for its younger employees from the latter half of fiscal 2019 at the earliest.

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